Offshore staff
LONDON – Nineteen companies have submitted a total for the UK’s first carbon storage licensing round.
Thirteen areas were offered offshore Aberdeen, eastern Scotland, Teesside and Lincolnshire, eastern England, and Liverpool, northwest England. All are said to offer attributes such as suitable geology, proximity to existing infrastructure and links to industrial clusters investigating carbon storage to meet their decarbonization targets.
The UK’s North Sea Transition Authority (NSTA) will assess the bids with a view to awarding licenses early next year. It is aiming to have capacity in place by 2030 to store 20 MM to 30 MM metric tons per year of CO2.
More license rounds should follow as up to 100 CO2 stores could be needed for the UK to reach its net zero by 2050 target, the NSTA added.
With carbon capture and storage (CCS), CO2 is captured from industrial processes, then transported via ship or pipeline for storage in the subsurface offshore.
First injection of CO2 could take place four to six years after a license has been awarded.
Once the NSTA has awarded a license, the successful applicants will also need to obtain a lease from The Crown Estate or Crown Estate Scotland before progressing their projects.
09.23.2022
